The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1887-12-09
CONDITION OF THE MARKETS
Corn Absorbs the Attention of Specu-
lators and Heavy Trading Results.
Prices Fluctuate Considerably During the Day
and Lower Range Is Established-Pro-
visions Also Bring Lower Prices.
MONEY, BONDS AND STOCKS.

Moderately Active Market, with Lower
Prices for Majority of Shares
NEW YORK, Dec 8-Money on call was
easy at TO per cent, closing offered at Al
per cent
Prime mercantile paper, 60sI per cent
Sterling exchange dull but steady at
t4.sl3 for sixty-day bills, and 81 S4t for demand
The total sales of stocks to-day were 234, 647
shares. including the following: Canada South
ern, 4, 600; Delaware Lackawanna & Western,
B6.ss0; Erie, Is. $40; Lake Shore, 1850; Louis
vile & Nashville. 10 $685. Missouri Pacific. 6,355;
Northwestern. s,Ol5; New Jersey Central 3, 10O
Reading. 43.333; ST. Paul. 80 7o5; Texas Pacific,
s,507; Union Pacific, 81 9G5: Western Union.
1850.
The stock market to-day was moderately
active, though speculation was narrow. It was
somewhat feyerish and weak, however, beng
subjected to vigorous radne during almost the
entire day. The general feeling In the morning
was less bearish London a buyer, and
supporting orders appeared ia most of the
specialbies. number OF adverse influences
brought bear, however, and the
of issue of new stock by the Rock
Island, the report that a receiver had been
pointed for the Missouri, Kansas e. Texas. and
that the earnings of Reading for November
would show loss, with the old story of Chi
cago bank IN trouble, were used. The one that
did most harm, however. was that the dividend
Richmond & West Point preferred
would be passed, and this. supple
lnented by persistent attacks upon the
stock made 1t the special weak spot OF the mar
ket The Chicago party were very active IN
brin gina about the decline, but the old bears"
and the room traders were prominent in ham,
merine the list. Western Union was sold down
On rumors of trouble in the Anglo Western
L MON cable pool, and sharp drives were made
against Union Pacific, Reading. and Lacka-
The only strong stock the list was
Canadian Pacific which purchased heavily
by the foreigners. The opening was firm at ad-
yances extending to per cent, but the advan-
tage main tanned. prices sagging off
slowly. while the business became extremely
dull. Richmond & West Point became the
special point OF attack, late in the day. when
the market showed much more ANNA
ton and the decline became more
general There was some support
given the list late in the DAY,
when the decline was checked, though there was
no recovery. and the close was quiet but heavy
at the lowest prices reached Almost
everything the active list is lower to night,
though Canadian Pacific is up J, but Richmond
g. West Point LOST q; the preferred, H. Canada
Southern, Texas Pacific and Union Pacific, Is
each; Northwestern and Colorado Coal. =: Wes-
tern Union, St. Paul. Lake Shore & Lackawan-
per cent.
Railroad bonds were extremely dull; sales,
only $553. 600. Closing prices are generally
lower. Kansas & Texas sizes lost g at IL, and
Mobile g Ohio first debentures, 2, at Al
Government bonds were dull and heavy.
State bonds were very dull and steady. Clos